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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Glencore    GLEN   JE00B4T3BW64

GLENCORE

(GLEN)
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Delayed Quote. Delayed London Stock Exchange - 05/24 11:35:24 am
261 GBp   +0.52%
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Glencore : Katanga names Glencore Coal's chief development officer for top job

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04/18/2019 | 05:06am EDT

(Reuters) - Katanga Mining Ltd, a unit of Glencore Plc, on Wednesday named Glencore Coal's chief development officer Jeff Gerard to the top job, taking over from Danny Callow.

The appointment comes less than two months after Glencore, the world's biggest supplier of seaborne coal, said it would limit annual coal production capacity to current levels of about 150 million tonnes after discussion with its investors.

Gerard will take over on May 2 and will also serve as the head of Glencore's assets in the Democratic Republic Of Congo (DRC) and oversee its Mutanda mining operation in the country.

DRC is home to almost 60 percent of the world's supply of cobalt, a mineral expected to be in increasing demand for batteries used in electric vehicles.

Glencore mines about a quarter of the world's cobalt, with most of its output coming from Congo. It plans to ramp up total production of cobalt, mostly from the Katanga and Mutanda mines in DRC, to about 57,000 tonnes in 2019 from 42,200 tonnes last year, the company said in February.

However, a U.S. demand for documents in July related to Glencore's assets in DRC as part of a corruption and money laundering probe had weighed on investor sentiment.

Gallow, who took over as CEO of Katanga in January, had worked for over 12 years in Glencore's African copper operations and played a key role in developing its copper assets in DRC.

(Reporting by Arathy S Nair in Bengaluru; Editing by Arun Koyyur)

Stocks treated in this article : Katanga Mining Ltd, Glencore
Stocks mentioned in the article
ChangeLast1st jan.
GLENCORE 0.52% 261 Delayed Quote.-10.42%
KATANGA MINING LTD -1.22% 0.405 Delayed Quote.-22.12%
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Financials ($)
Sales 2019 218 B
EBIT 2019 7 670 M
Net income 2019 4 247 M
Debt 2019 27 055 M
Yield 2019 6,06%
P/E ratio 2019 9,76
P/E ratio 2020 8,29
EV / Sales 2019 0,33x
EV / Sales 2020 0,32x
Capitalization 45 407 M
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Technical analysis trends GLENCORE
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 4,73 $
Spread / Average Target 43%
EPS Revisions
Managers
NameTitle
Ivan Glasenberg Chief Executive Officer & Executive Director
Anthony Bryan Hayward Non-Executive Chairman
Steven F. Kalmin Chief Financial Officer
Peter Roland Coates Non-Executive Director
Leonhard Heinrich Fischer Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
GLENCORE-10.42%45 407
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YANZHOU COAL MINING CO LTD20.96%6 347